Tesco marketing mastermind Clive Humby once said, “Data is the new oil”. No wonder why he said so. Like oil, businesses also need data to keep progressing and make operations efficient. Besides, you need technology and infrastructure to collect, store, and nurture both of them.
Businesses were familiar with the power of oil, but several sectors across the globe were lagging to adopt the most influential technological trend over the last decade, big data. But finally, with the digital revolution, big data has started to make its way into various industries, including construction. The construction sector generates a huge amount of data every day. With the help of the right technology and tools, you can harness big data for your construction business and gain a competitive advantage. Let’s discuss how.
Big Data Can Help with Your Construction Project Planning & Budgeting
You can leverage the power of big data from the beginning of your construction project. Big data analytics tools help users to collect and compile data from current and past projects. As a result, you can figure out those potential factors that may cause delays and impact the project deadline.
Success in the construction business depends a lot on how precisely you create the project budget. Failure to estimate an accurate budget may cause a significant threat to the project success. Luckily you can estimate material, machinery, labour, and other miscellaneous costs accurately with the help of big data analytics tools.
Finally, we will conclude that harnessing the power of big data in the construction industry can save you from insufficient planning and inaccurate budgeting. Therefore, the future of your construction project will surely be prosperous.
Big Data Can Make Building Maintenance and Renovations Easier
Studies show that big data in construction can be highly useful to project managers and owners, even after the end of construction. Managers can collect building information with the help of big data tools and provide them to maintenance crews. Structural details and building information collected during construction will help the maintenance team to make informed decisions during future renovation and maintenance projects.
Construction companies often install permanent sensors inside a building to monitor its structural condition in the horizon of time. After collecting data from these sensors, you can use them in BIM models to keep an eye on energy usage, temperature patterns, etc. Most importantly, it will help you to understand the maintenance requirements in advance.
Manage Project Risks Using Big Data
Big data users get access to more information and in-depth insights. It helps owners to make subtle decisions and lower project risks. The powerful algorithms of big data analytics tools also help construction companies to improve project efficiency. It is another crucial factor that makes big data essential for construction project risk management.
Big data is the blessing that construction companies need to stay ahead of the competition, but unfortunately, you can’t harness the potentiality of big data without the right tool and technology. That’s why the importance of PROJECT INTEL becomes critical to leverage the power of big data for driving success to your construction business. Using our all-in-one tool you can forecast with more confidence, generate highly qualified leads, and manage your sales pipeline. Get in touch with us to learn how we can help you to integrate big data in your construction business in UAE or other Middle East or GCC countries.